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ECONOMIC INDICATORS

Foreclosure filings drop in R.I.

FORECLOSURE filings in the Providence-Fall River-New Bedford area dropped 24 percent in February 2012 when compared with the same period last year. For a larger version of this graph CLICK HERE

COURTESY REALTYTRAC

Posted:
Thursday, March 15, 2012 10:27 am

By Patrick Anderson PBN Staff Writer

PROVIDENCE – Foreclosure filings in the Providence-Fall River-New Bedford area dropped 24 percent in February compared with the same period last year, RealtyTrac said Thursday.

There were 571 total filings – including default notices, foreclosure auctions and bank repossessions – in the Providence area last month, down from 753 in February 2011, the Irvine, Calif.-based real estate data firm reported.

The Providence metro area includes all of Rhode Island and Bristol County, Mass., and in February, foreclosure activity in the two states was heading in different directions.

In Rhode Island alone, the number of foreclosure filings dropped 39 percent year over year in February, while in Massachusetts statewide foreclosures rose 37 percent over the same period.

In Bristol County, Mass., filings rose 38 percent in February to 198 from 143 last February. In Providence County, February foreclosures declined 7 percent year over year, to 263 from 283 lat February.

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